Allianz, Sun Life Financial Might Bid for HSBC's Singapore Insurance Unit, Bloomberg Says, Citing Sources
--Allianz and Sun Life Financial might bid for HSBC's Singapore insurance unit in a deal that could value the business at around $2 billion, Bloomberg reports, citing unnamed sources.
--Dai-ichi Life and Nippon Life India Asset Management could also bid for the unit, which HSBC put up for sale earlier this month, Bloomberg says, adding that potential offers could be made in the coming weeks.
--Representatives for Allianz, Dai-ichi Life and Nippon Life declined to comment to Bloomberg. A Sun Life spokesperson said the company always seeks opportunities that enhance its scale and capabilities and advance goals and strategy. A representative for HSBC said the Singapore insurance unit was under strategic review and no decision has been taken, declining to comment further.
Full story: https://tinyurl.com/zt6sksjt
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
March 12, 2026 10:39 ET (14:39 GMT)
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